To bring extra stream of cash, I was thinking of becoming a Loss Mitigatin Consultant to help those who are in foreclosure. I need to pay for my training. Does some out there know if it is in fact as great as they say they are? Sorry if I sound skeptical. I’m just being precautious. I’m a teacher but want to change careers. I believe real estate is where the money is. Thanks. Jacque1
Not sure I understand. Who is they. The trainers, or the loss mitigator?
Be careful with using terms like “consultant” as many attorney generals are looking for people who carry this title to investigate (too many scams involving people who accept money as consultants from distressed homeowner and the run).
A better bet is to be a homebuyer that specializes in buying pre-foreclosures.
If your interest is only to negotiate short sale transactions for others understand that it’s a lot of time on the phone, and to close a deal you need several parties to follow thru on their responsibilities.
To learn more, a short sale company (strategic real estate coach) just had a conference call last week with a loss mitigator for a bank to discuss the negotiation process.
One more point, it’s not negotiation, it’s really just facilitating the transaction. The lenders hold all the cards and everyone else is at their mercy. So the skill level needed isn’t high . . . you just need to be organized to handle all the files, calls, docs, etc . . . sort of like teaching!
Thank you for all the great advice to all of you. Thanks for advicing me about “consultant”. I did call the better business bureau, and there were some bad reports on that company.
You sound awsome, all this RE talk. But it sounds so complicated to me. I think of filling out contracts, the steps to make sure I purchase right , $and the people involved, and $everything in between. But I will not give up. Thanks. Jacque1
:cool The very big part as was said is the follow through all parties with any real estate deallings need to do this
And this is with any deallings and put with that be honest complety
If you are not then the real estate police will be around to speak with you very very fast